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Pokemon Go Seen Making Billions for Apple

Pokemon Go Seen Making Billions for Apple 415z4h

By Reuters | Updated: 21 July 2016 09:55 IST

Highlights

Pokemon Go has boosted Apple's revenue to $3 billion
It is currently available in 35 countries across the globe
It has nearly outshone Candy Crush's paid items in the App Store

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Apple Inc stands to rake in $3 billion (roughly Rs. 20,173 crores) in revenue from the Pokemon Go craze in the next one to two years as gamers buy "PokeCoins" from its app store, brokerage Needham & Co said.

Nintendo Co Ltd, can be ed for free but iPhone s can use PokeCoins to buy additional features. 1r3b1w

A pack of 100 PokeCoins costs 99 cents in Apple's app store, but the price can go up as much as $99.99 for a pack of 14,500.

(Also see: Pokemon Go to Launch in Roughly 200 Markets 'Relatively Soon')

"We believe Apple keeps 30 percent of Pokemon Go's revenue spent on iOS devices, suggesting upside to earnings," Needham analyst Laura Martin wrote in a client note on Wednesday.

Pokemon Go had 21 million active s in the United States alone as of July 18 - less than two weeks after going live.

(Also see: Pokemon Go Review)

The game, which has been rolled out in 35 countries, is also available on Android devices.

Martin said Pokemon Go's ratio of paid s to total s was 10 times that of Candy Crush, the hit game from King Digital that generated more than $1 billion of revenue in both 2013 and 2014.

s in the United States are spending far more time playing the game than they are using WhatsApp, according to app analytics firm Sensor Tower.

(Also see: How to Pokemon Go APK, Install, and Play on Android)

Electronics retailers have also seen a bump in sales of mobile chargers and charging cases since the launch of the game.

Up to Tuesday's close, Apple's shares had gained 5 percent in market value, or about $25 billion (roughly Rs. 1,68,127 crores), since the launch of the game in the United States on June 6. Nintendo's stock has nearly doubled.

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